ASIAN BUSINESS
Tile maker Asian Granito India Ltd, on Monday,
launched a range of its new porcelain product brand, named TuffLong for the
floor segment.
Unveiling a new brand identity at a press conference
here, Kamlesh Patel, Chairman, said the new products having a longer and
stain-free life will be priced 20 per cent higher than other tiles, starting
from Rs 250 to Rs 1,900 per sq m.
In 2011-12, Asian Granito’s revenues grew 30 per
cent against the industry’s 14 per cent. The company would increase the number
of showrooms from 40 to 100 soon.
The company said it plans to double sales to Rs
1,500 crore in the next three to four years.
It added that in the next four years the company
plans to increase its exports from Rs 20 crore to Rs 100 crore, he said. Nearly
60 per cent of the company’s sales are derived from retail sales and 40 per
cent from institutional clients. The listed company’s production capacity has
increased 32-fold, from 2,500 sq m per day in 2000 to 81,000 sq m now.
China, Brazil and India are the largest producers of
ceramic tiles in the world. Of nearly 550 tile companies, nearly 500 are in
Gujarat alone. The sector has a turnover of Rs 18,000 crore, including Rs 8,000
crore in unorganized sector.
About domestic consumption, Patel said the four
southern states and Maharashtra account for Asian Granito’s 30 per cent sales,
and western states, 15 per cent.
Replying to a question, he said China no longer
presented a threat to Indian tiles manufacturing sector, as only 5 per cent
tiles are now imported from there.
The economic future of Asia remains bright despite
slight slowdowns that may emerge from time to time, but countries need to
control the volatility of fund inflows, says a senior IMF official.
“They have very good prospects for the future. These
markets are enjoying about 6% [annual] growth at this moment and there’s huge
potential to be the next engine of growth for the global economy,” said Naoyuki
Shinohara, the deputy managing director of the International Monetary Fund
(IMF).
The prospects for “Frontier Asia” in particular were
very good, he said in a recent interview with Asia Focus. With a combined
population of 350 million people, Frontier Asia is increasingly playing an
important role within Asia and the world.
The frontier economies in Asia include Bangladesh,
Cambodia, Mongolia, Laos, the Maldives, Myanmar, Nepal, Timor-Leste and the
Kyrgyz Republic. The recent political and economic changes in Myanmar have
ushered onto the stage another economy with great potential.
Since the onset of the global financial crisis in
2008, Asia has demonstrated an extraordinary economic resilience, emerging as
an important engine of global growth and as a source of stability. While the
world’s attention has tended to focus on the region’s largest economies, there
has been another important development — the achievements of Frontier Asia,
nations that are on a path to writing a new success story, he said.
“But at the same time there are lots of challenges
that they are facing, and despite this I think they have to take advantage of
the current situation to build a system, and that is one of the issues I have
been talking about to central bankers,” he added.
His concern has been the inflow of funds into these
countries from weaker western economies that have been using expansionary
monetary policies as a stimulus. Most of the extra money pumped into the US and
EU economies has ended up in Asia where investment returns are far better than
in the West.
Asia has also witnessed a boom in credit growth as
governments have been promoting more domestic consumption in light of the
weakening export sector.
BANKING
Swiss banks are selling a new safe-haven idea to the
rich and mighty from India and other countries – special accounts for holding
gold bars and high-value Swiss franc notes in the safety of their cash vaults.
Amid a global crackdown against alleged illicit
wealth in secret accounts of Swiss banks, these new products claim to offer
safety from the snooping eyes of regulators and tax authorities from the home
countries of the rich foreign clients of banks operating from Switzerland.
Speaking on condition of anonymity, several Swiss
bankers present at the recently held World Economic Forum Annual Meeting in
Davos said these gold accounts and cash vaults are being lapped up by the rich
clients from across the world, including those from India.
As a result, some of the large banks have already
hiked the fees for these gold accounts and the safe deposit boxes, which are
also being used to store valuables like gold, diamond, paintings and other art
works, a top Swiss banker said.
The bankers claimed that these safe deposit vaults
are being lapped up because of limited risk of catching the prying eyes of the
foreign governments having signed banking information exchange treaties with
Switzerland.
None of the banks were ready to offer official
comments on this trend, despite repeated attempts, although their officials
admitted that they have successfully approached with these products many of
their rich clients, including during the WEF summit.
The bankers said they are telling their rich clients
that Switzerland’s tax and information exchange treaties with India and other
countries are mostly limited to funds in the customers’ savings, deposit and
investment accounts, and do not apply to the safe deposit boxes.
Peerless Mutual Fund has become the first fund house
to introduce the option of making cash investments in mutual fund schemes. The
fund house has for this purpose tied up with Allahabad Bank for providing this
facility.
This option is in accordance with the SEBI guideline
allowing mutual fund houses to accept cash investments of up to Rs 20,000 from
investors for investing in mutual fund schemes.
“Peerless Mutual Fund aims to cater to un-banked
customers in tier-III and tier-IV locations through this facility. Allahabad
Bank has a strong presence in these markets,” said Akshay Gupta, MD and CEO,
Peerless Funds Management Company.
He added that the idea is to remove the constraints
associated with cheque payments.
“We are hoping that the first time they will pay
through cash, but later on down the line they would open a bank account,” he
added.
So far, on a test basis, Peerless has tied-up with
38 branches of the bank; one for each of the Peerless MF branches.
“The cash purchase facility is available immediately
at select Allahabad Bank branches and will gradually be extended to 2,500
branches. But for now, we have tied up with those bank branches which are
closest to our branches,” said Gupta.
BUSINESS
Berger
Paints India climbed
nearly 3% on Monday after it reported strong Q3 earnings.
The company announced
56.42% increase in consolidated profit of Rs 768 million for the quarter ended
Dec. 31, 2012 as compared to Rs 491 million for the same period last year.
Consolidated total income from operations rose 17.5%
to Rs 9.20 billion for the quarter ended Dec. 31, 2012 from Rs 7.83 billion in
the year ago period.
During the quarter, the company witnessed
improvement in margins by 180 bps to 11.1%. Shares of the company are
trading at Rs 185.05, up Rs 5.2, or 2.89% at the Bombay Stock Exchange (BSE) on Monday at 11:49 a.m.
The scrip has touched an intra-day high of Rs 189.15 and low of Rs 182.50. The total volume of shares traded at the BSE is 158,114.
In the earlier session, the shares climbed 3.42%, or Rs 5.95, at Rs 179.85. Currently, the stock is trading all time 52-week high, which is above 90.77% over the 52-week low of Rs 97.
The scrip has touched an intra-day high of Rs 189.15 and low of Rs 182.50. The total volume of shares traded at the BSE is 158,114.
In the earlier session, the shares climbed 3.42%, or Rs 5.95, at Rs 179.85. Currently, the stock is trading all time 52-week high, which is above 90.77% over the 52-week low of Rs 97.
Global consumer confidence dipped at the end of last
year, a survey showed on Monday, and more than 60 percent of respondents said
the next 12 months would not be a good time to spend.
Concerns about U.S. budget talks, which have since
eased, and worries about the euro zone crisis weighed on consumer sentiment in
the final quarter of 2012, according to the survey by global information and
insights company Nielsen.
Sixty three percent of respondents said it was not a
good time to buy discretionary or non-discretionary things over the next 12
months, with spending restraint most notable among Europeans.
Consumers in the Asia Pacific were most upbeat but
even there 59 percent said the next 12 months would not be a good time to
spend, the survey showed.
India remained the most optimistic consumer market
globally for a second straight quarter, followed by the Philippines, Indonesia
and Thailand.
The Nielsen Global Consumer Confidence Index dipped
1 point in the fourth quarter to 91, after rising 1 point in the third quarter,
and was 2 points higher than a year earlier.
A reading below 100 signals consumers are
pessimistic about the outlook. Only 10 of the 58 markets surveyed reported a
reading above 100. Confidence was worst in euro zone countries grappling with
debt problems, notably Greece, where consumer sentiment fell sharply in the
fourth quarter from the previous three months.
BUSINESS
COMMUNICATION
The first of NASA's three next-generation Tracking
and Data Relay Satellites (TDRS), known as TDRS-K, launched from Cape Canaveral
Air Force Station in Florida.
"TDRS-K bolsters our network of satellites that
provides essential communications to support space exploration," said
Badri Younes, deputy associate administrator for Space Communications and
Navigation at NASA Headquarters here.
"It will improve the overall health and
longevity of our system," Younes said in a NASA statement.
The TDRS system provides tracking, telemetry,
command and high-bandwidth data return services for numerous science and human
exploration missions orbiting Earth. These include the International Space
Station and NASA's Hubble Space Telescope.
"With this launch, NASA has begun the
replenishment of our aging space network," said Jeffrey Gramling, TDRS
project manager.
"This addition to our current fleet of seven
will provide even greater capabilities to a network that has become key to
enabling many of NASA's scientific discoveries," Gramling said.
TDRS-K was lifted into orbit aboard a United Launch
Alliance Atlas V rocket from Space Launch Complex-41. After a three-month test
phase, NASA will accept the spacecraft for additional evaluation before putting
the satellite into service.
Last week, Facebook announced that its mobile users
exceeded desktop users for the first time in the company’s history. The trend
is not just Facebook-specific. Use of the internet and web-based applications
over mobile devices is becoming increasingly popular, not just globally, but
domestically in Pakistan as well.
And what could be a better time to realise the importance of internet accessibility on mobile phones than these days when mobile networks are shut down without so much as a meaningful prior warning. Mobile applications such as WhatsApp and Viber become the chief means of communication when SMS and calls via mobile networks cannot be facilitated.
Necessity really becomes the mother of invention as more and more people in Pakistan, especially in mobile-network-affected Karachi, explore the option of mobile phones that allow internet accessibility. Thanks to Chinese replicas of well-known models and locally-made cellphones, the choice of an internet-compatible phone is not a pricey one anymore.
In fact, mobile networks have acknowledged this rapidly growing popularity of internet on the phone, as evident from internet packages offered by nearly all mobile operators in the country. However, the ability to get connected via WiFi internet is the new rage that offers much convenience, as nearly every public place in Pakistan, from cafes to hotels and malls have a free wireless connection for customers.
It’s the mobility that mobile phones (pun, indeed) offer that helps trace the popularity of having the internet on the go. Be it for navigational purposes as one uses the GPS to locate a friend’s house, or to scroll through a news website on the way to work, mobile internet offers much flexibility for anyone.
And what could be a better time to realise the importance of internet accessibility on mobile phones than these days when mobile networks are shut down without so much as a meaningful prior warning. Mobile applications such as WhatsApp and Viber become the chief means of communication when SMS and calls via mobile networks cannot be facilitated.
Necessity really becomes the mother of invention as more and more people in Pakistan, especially in mobile-network-affected Karachi, explore the option of mobile phones that allow internet accessibility. Thanks to Chinese replicas of well-known models and locally-made cellphones, the choice of an internet-compatible phone is not a pricey one anymore.
In fact, mobile networks have acknowledged this rapidly growing popularity of internet on the phone, as evident from internet packages offered by nearly all mobile operators in the country. However, the ability to get connected via WiFi internet is the new rage that offers much convenience, as nearly every public place in Pakistan, from cafes to hotels and malls have a free wireless connection for customers.
It’s the mobility that mobile phones (pun, indeed) offer that helps trace the popularity of having the internet on the go. Be it for navigational purposes as one uses the GPS to locate a friend’s house, or to scroll through a news website on the way to work, mobile internet offers much flexibility for anyone.
BUSINESS
MANAGEMENT
The reputation of the nuclear industry faces further
damage this week with the publication of a highly critical report on Monday on
the management of the Sellafield plant in Cumbria, days before a court action
over the illegal dumping of nuclear waste.
The moves follow Cumbria county council's refusal last week to pursue plans to build a
storage facility for radioactive materials needed, many believe, if Britain
is to build new atomic power stations.
The Commons public accounts committee report claims
that Nuclear Management Partners (NMP), the private consortium managing
Sellafield, has failed to stem rising costs and delays in dealing with waste and the decommissioning of
facilities.
Margaret Hodge MP, the committee's chair, said:
"Taxpayers are not getting a good deal from the [Nuclear Decommissioning]
Authority [NDA] arrangement with Nuclear Management Partners.
"Last year the consortium was rewarded with
£54m in fees despite only two out of 14 major projects being on track.
"It is unclear how long it will take to deal
with hazardous radioactive waste at Sellafield or how much it will cost the
taxpayer. Of the 14 current major projects, 12 were behind schedule in the last
year and five of those were over budget.
"Furthermore, now that Cumbria county council
has ruled out West Cumbria as the site of the proposed geological disposal
facility, a solution to the problem of long-term storage of the waste is as far
away as ever."
Waste
Management Inc. (NYSE: WM) added one of the nation's largest private
recycling firms to its portfolio for an undisclosed amount.
The Houston-based company bought Greenstar
LLC, also based in Houston, from Dublin-based NTR Plc, for an undisclosed
amount, according
to a statement.
Greenstar manages about 1.5 million tons of recycled
material for more than 12,000 customers through 12 material recovery
facilities, including seven single-stream plants, and a brokerage business for
recovered material.
Operations at Greenstar will continue as normal
while Waste Management integrates the operation, the company said in the
statement.
FINANCE
Tamil Nadu's crippling power crisis and the local
government's solar
energy focus is winning over some converts among top corporate names in the
state. Solar
power is increasingly being viewed as a viable alternative to grid energy
particularly by Tamil Nadu's industrial sector which paid heavily for the power
crisis in 2011 and 2012. The latest to sign up for solar power is German truck
maker Daimler
India Commercial Vehicles (DICV) -- wholly owned subsidiary of Daimler AG and the
manufacturer of the BharatBenz truck
brand -- which has announced the setting up of its first solar
power project within its plant at Oragadam, near Chennai.
DICV's solar power focus began last year in line with Daimler's global focus to turn towards green energy. "The focus is not only in creating environment friendly products but also to focus on such energies for internal use. This is also in-line with DICV's initiative to create better self-sufficiency in power that reduces dependency on conventional power. DICV will enhance its focus on new renewable energies," the company said in a statement.
"The pressure on the environment is increasing as economies are expanding rapidly and the demand for power is always increasing," said Marc Llistosella, MD & CEO, DICV. "We have a responsibility to society to reduce our carbon footprint. In line with our focus globally, Daimler is always exploring possibilities to turn to alternate means of energy. We are happy that the government of Tamil Nadu has taken initiatives in this regard on a large scale. Our first project is set in the right direction and we will take this further".
IDBI MF to launch Rajiv Gandhi equity savings scheme
DICV's solar power focus began last year in line with Daimler's global focus to turn towards green energy. "The focus is not only in creating environment friendly products but also to focus on such energies for internal use. This is also in-line with DICV's initiative to create better self-sufficiency in power that reduces dependency on conventional power. DICV will enhance its focus on new renewable energies," the company said in a statement.
"The pressure on the environment is increasing as economies are expanding rapidly and the demand for power is always increasing," said Marc Llistosella, MD & CEO, DICV. "We have a responsibility to society to reduce our carbon footprint. In line with our focus globally, Daimler is always exploring possibilities to turn to alternate means of energy. We are happy that the government of Tamil Nadu has taken initiatives in this regard on a large scale. Our first project is set in the right direction and we will take this further".
IDBI MF to launch Rajiv Gandhi equity savings scheme
IDBI Asset Management has received approval from
SEBI for the launch of the IDBI Rajiv Gandhi Equity Savings Scheme – Series I
(RGESS).
“Under RGESS, a ‘New Retail Investor’ who has not
transacted in equity share through his/her depository account/derivatives as on
November 23, 2012, and having a gross annual income not exceeding Rs 10 lakh,
would be eligible for tax savings under Section 80 CCG,” said a release from
the fund house.
This is over and above the limit of Rs 1,00,000
currently available under Section 80 C of the Income-Tax Act.
The scheme will invest 95-100 per cent of the corpus
in equity and equity-related instruments and the rest will be invested in money
market instruments.
INDIA BUSINESS
Amid a probe being initiated into Wal-Mart's US
lobbying with regard to its India entry, the global retail giant has continued
to lobby with the American lawmakers on this issue, as also others, and spent a
total amount of $6.13 million on the same during 2012.
As per the latest Congressional records of lobbying disclosure reports, the US-based Wal-Mart Stores spent a total amount of $1.48 million (about Rs 8 crore) on lobbying for various issues, including on "discussions related to FDI in India", during the last quarter ended December 31, 2012.
This has taken the total lobbying bill of the company for entire 2012 to $6.13 million (about Rs 33 crore), the lobbying disclosure records available with the US Senate show. Wal-Mart has been lobbying with the US lawmakers on dozens of issues every quarter, whose disclosures it is mandatorily required to make under the American regulations.
Recently, the Indian government initiated a probe into the lobbying activities by Wal-Mart in the US for gaining access to Indian market, after disclosures about these activities caused a furore and a political debate in India.
The company has, however, maintained that these disclosures have nothing to do with political or governmental contacts with India government officials and they only show that Wal-Mart's business interest in India was discussed with the US government officials along with many more other topics.
As per the latest Congressional records of lobbying disclosure reports, the US-based Wal-Mart Stores spent a total amount of $1.48 million (about Rs 8 crore) on lobbying for various issues, including on "discussions related to FDI in India", during the last quarter ended December 31, 2012.
This has taken the total lobbying bill of the company for entire 2012 to $6.13 million (about Rs 33 crore), the lobbying disclosure records available with the US Senate show. Wal-Mart has been lobbying with the US lawmakers on dozens of issues every quarter, whose disclosures it is mandatorily required to make under the American regulations.
Recently, the Indian government initiated a probe into the lobbying activities by Wal-Mart in the US for gaining access to Indian market, after disclosures about these activities caused a furore and a political debate in India.
The company has, however, maintained that these disclosures have nothing to do with political or governmental contacts with India government officials and they only show that Wal-Mart's business interest in India was discussed with the US government officials along with many more other topics.
Japanese car maker Nissan plans to develop its first
'made-in-India' car in the next 5-6 years, and enhance the R&D centre at
Chennai by doubling the strength of engineers to around 4,000 people.
"Our plan is to enhance the capability of our R&D centre. Once we will have complete testing facilities, we will have the potential to develop the platform and will be able to roll out a vehicle indigenously from our R&D centre in Chennai," NMIPL Managing Director and CEO Takayuki Ishida told PTI here.
Besides, the company's wholly-owned subsidiary Nissan Motor India Pvt Ltd (NMIPL) said it is "rectifying" some of the issues related to its association with distribution and service partner Hover Automotive India (HAI) after witnessing "some unrests" from a section of dealers. The company is planning to develop a car for the Indian market in the next 5-6 years, Ishida said.
"Engineers will be gradually hired every year depending upon number of platforms we want to develop and synergies with our global research centres. The R&D manpower should be double or more than double in the next 5-6 years," he said.
"Our plan is to enhance the capability of our R&D centre. Once we will have complete testing facilities, we will have the potential to develop the platform and will be able to roll out a vehicle indigenously from our R&D centre in Chennai," NMIPL Managing Director and CEO Takayuki Ishida told PTI here.
Besides, the company's wholly-owned subsidiary Nissan Motor India Pvt Ltd (NMIPL) said it is "rectifying" some of the issues related to its association with distribution and service partner Hover Automotive India (HAI) after witnessing "some unrests" from a section of dealers. The company is planning to develop a car for the Indian market in the next 5-6 years, Ishida said.
"Engineers will be gradually hired every year depending upon number of platforms we want to develop and synergies with our global research centres. The R&D manpower should be double or more than double in the next 5-6 years," he said.
INDIA MANAGEMENT
On the back of crossing the USD one-billion Assets
Under Management (AUM) mark by its Singapore subsidiary, Reliance Capital Asset
Management today said it plans to double its global assets portfolio in the
next three years.
Reliance Capital AMC, Singapore (RCAMS) today said
it has crossed USD 1 billion AUM milestone in its offshore funds, as of January
31. RCAM Singapore was launched in 2006.
"The USD 1-billion in AUM is a milestone for
our Singapore operations. It reinforces our belief that India will continue to
be an attractive investment destination for foreign investors.
"We see these AUMs growing multifold in the
next few years, and Singapore will play a larger role in expanding our global
footprint," said Reliance Capital AMC Chief Executive Sundeep Sikka said.
RCAM Singapore is the hub for the company's global
operations and offers a well-rounded portfolio of fixed income, equity and
alternate funds to its overseas investors.
RCAM altogether manages around USD 2 billion in AUMs
from global investors across various funds, with a portfolio of long only,
hedge and Shariah compliant funds.
The company has plans to double its AUM from
international operations in the next three years, and the AUMs in Singapore are
likewise expected to double in the next two years.
India's share in global art market is $250 million,
i.e., less than 1% of the total global art market that is currently worth $60.8
billion. However, the Indian art market is on an upswing and a recent report by
Fortune claims that the Indian art market has risen over 485% in the last 10
years, making it the fourthmost-positive art market in the world. In the past,
the Indian art market was largely dominated by collectors and connoisseurs,
royal and wealthy Indian families, who acquired art more out of aesthetic
appeal than as investment in an alternative asset class.
Recent trends indicate the emergence of a new class
of buyers: upper-middle-class families, upwardly-mobile professionals and
entrepreneurs from diverse fields, who constitute the growing number of high
net-worth individuals (HNIs). Driven by high disposable wealth, this growing
HNI population has triggered a change in the investment behaviour. With an
increase in global liquidity and wealth creation driving up prices across all
asset classes, HNIs are seeking new investment products and avenues with low
correlation to financial assets.
INSURANCE
AIICO Insurance Plc paid N6.3 billion claims to its
clients between January and December 2012. This amount represents an increase
of N2.2 billion over the N4.1 billion claims paid by the company during the
corresponding period of year 2011.
Making this disclosure in Lagos, the Managing
Director of AIICO, David Sobanjo said that the company’s focus is the prompt
settlement of all genuine insurance claims and this will continue to be the
business philosophy of the company in years ahead.
He explained that a total claim of N4.003 billion
was paid from the life aspect of the business, while N2.393 billion was paid as
claims from general insurance business.
Giving a further breakdown of the various amounts
paid in the different insurance classes, Sobanjo said a total of N950.7 million
was paid on fire insurance policies, while N681.1 million was paid out on motor
insurance policies, and construction all risks insurance policies accounted for
N44.9 million claims.
The insurance firm also paid N34 million on group
personal accident insurance, while Burglary Insurance accounted for N28
million, and N42.6 million was paid on Fidelity Guarantee Insurance.
Other classes of insurance with claims payments
include goods in transit insurance with N143.8 million paid out as claims,
workmen compensation insurance with N113.9 million claims, while N164.8 million
was paid on Oil & Energy Insurance policies during the period and a total
of N49.6 million was paid on marine insurance policies.
INTERNATIONAL
BUSINESS
Speculations of two new HTC
smartphones - M4 and G2 - have leaked to online media just days after the
Taiwanese company confirmed that it would host two events simultaneously at New
York and London on
19 February. Technology website Unwired View has released the leaked spec sheet of the
alleged M4 and G2 smartphones. The website claimed that both the new devices
are Android-based
smartphones. Considering the M4 specs, it resembles a high-end premium handset,
but the device is a notch below the upcoming HTC's flagship smartphone M7.
HTC's another speculated device G2 is said to be an
entry-level smartphone featuring Android v4.0 mobile OS Ice Cream Sandwich.
Unwired View claimed that the G2 smartphone specs closely resembles HTC's entry
level smartphone Desire C, but new G2 feature a more faster 1.0GHz processor
compared to Desire C's single core 600MHz processor.
The website also said that the both smartphones M4
and G2 will not feature in the upcoming international mobile convention MWC
(Mobile World Congress)
2013 to be held at Barcelona, Spain between February 25-28. The new smartphones
are expected to be released later in the year.
The Taiwanese smartphone maker confirmed a few days
ago that it would host an event at London on
19 February. Many technology websites believe that HTC is most likely to unveil
the much-speculated high-end smartphone M7 at the event.
Nexus 4 recently returned at the Google Play Store
but it appears the 8GB version is facing supply issues once again. The device
currently shows indication of availability concerns due to delayed shipping
times where customers have to wait for three to four weeks before getting their
hands on the Nexus phone. For the Nexus 4 16GB version, its shipping time is only
one to two weeks but the device could still head towards the scarcity direction
as well. The Nexus 4 shipping time during its November release has gotten out
of hand since the supply of the smart phone did not last.
Nexus 4 availability has been the main concern and
Google CEO Larry Page
bravely stepped forward to address the issue. "Clearly there is work to be
done in managing our supply better, besides building a great customer experience
that is a priority for our teams," the Google CEO stated.
Supply issues just prove that Google Nexus 4 is one
of the most sought after Android
phones on the market due to its features, specifications and price. Google
offers the price of $299 for the Nexus 4 8GB version while the Nexus 4 16GB
costs $349.
LOGISTICS
The Government of Jamaica has unveiled ambitious
plans that will build the Caribbean island into a Global Logistics Hub for the
Americas and position it as a regional trading mecca similar to Singapore,
Dubai and Rotterdam.
High level discussions have already started with a
number of overseas investors to develop vast areas of prime real estate to
handle increased volumes of air and sea cargo.
Projects under discussion include growth of
container throughput at the Port of Kingston ahead of the expansion of the
Panama Canal, as well as the development of commodity ports to handle petroleum
products, coal, minerals and grain; the development of an air cargo strong hold
through the construction of an air cargo airport as well as the construction of
large scale ship repair dry docks.
Special economic zones are also being conceptualised
by a wide range of local and foreign investors. Once completed, the
initiative which is being spearheaded by the Jamaica Ministry of Industry,
Investment and Commerce, will transform Jamaica into the fourth node or pillar
in the global supply and logistics chain alongside Singapore, Dubai and
Rotterdam.
A critical element in the equation to make the
Logistics Hub successful is the involvement of suitable, long-term investors.
The Government of Jamaica is already in discussion with prospective partners
and is looking for new ones. Anthony Hylton, Minister of Industry,
Investment and Commerce, said the vast project contained many opportunities for
investors, logistics providers, distributors, manufacturers, and suppliers across
many industries around the world.
Dubai-based air services provider dnata has revealed
details of a plan to build a purpose built cargo logistics centre at the heart
of London Heathrow Airport.
Dnata City will include a 20-acre cargo complex
centred around five air freight warehouses, a transportation facility and yard
for airside operations enclosed in a security-fenced area.
“As a global player in the air cargo business, dnata
is committed to making a strong contribution to improving Heathrow Airport’s
air cargo infrastructure,” said Gary Morgan, CEO of dnata’s UK operations.
“We were concerned about the lack of new air cargo
facilities and felt the need to step forward to create and deliver
industry-leading air cargo services which will shape the future of our industry
at Heathrow,” he added.
Two of the dnata City buildings — the 140,000 sq ft
Cargo Point and 79,000 sq ft West Poin t— currently handle 21 wide-body flights
daily for Virgin Atlantic, with a 60,000 square foot facility nearby at Bedfont
Road dedicated to Cathay Pacific’s passenger and freighter cargo operations.
The dnata City complex will also encompass the
handler’s existing 60,000 sq ft self-contained transport yard, where it has a
fleet of 85 trucks providing 24/7 coverage with 4,000 truck movements currently
servicing 656 flights every week.
“dnata City can offer customers a range of versatile
options to suit their specific needs,” said Mohammed Akhlaq, business
development director, Cargo, for dnata’s business in the UK.
MANAGEMENT
Schneider Electric introduced StruxureWare Data
Center Operation for Co-location, a data center infrastructure management
(DCIM) application within the StruxureWare for data centers software suite to
address the needs of data centres with multiple tenants.
This new offering can optimize data centre equipment
and space by providing multi-tenant data centre providers and managers -
including wholesale, retail, managed hosting and cloud providers - with
real-time status updates on data centre capacities, including data centre
power, cooling, and available space, says a release.
"StruxureWare Data Center Operation for
Co-location provides unique business advantages for multi-tenant data centre
operators," said Soeren Brogaard Jensen, vice president, Solution
Software, Schneider Electric. "This DCIM solution identifies available
cage and rack space and has the ability to integrate tenant billing, saving
co-location providers time while delivering the most accurate availability
information to make business decisions and transactions on the go, at a speed
they have never been able to conduct such business before."
Expanding on Schneider Electric's existing
end-to-end DCIM software suite, the StruxureWare Data Center Operation for
Co-location offerings include:
Space and Cage Management, which allows the data
centre operator to apply grid-based naming for floor mount equipment, utilize
cage drawing tools and cage power modeling, and visualize the solution in 3D.
The Technology Innovation Agency (TIA) has invited
service providers to submit proposals for the development of an investment and
portfolio management system for a business-enablement infrastructure platform
it was creating.
The TIA, an initiative of the Department of Science
and Technology, was mandated to enable and support technological innovation
across all sectors of the economy to achieve socioeconomic benefits for South
Africa and enhance its global competitiveness.
The agency indicated that the investment and
portfolio management system would enable its core business processes to be
delivered effectively across the investment management value chain.
Proposals would have to include specifications in
regards to architecture, technical aspects, interfaces/integrations, management
change, software and hardware requirements, as well as implementation.
The TIA indicated that, depending on the proposals
received and the prototype chosen, full project implementation planning would
start in April.
The agency emphasised that cognisance would be given
to the people, process and technology aspects to ensure seamless migration to
the new system with minimal disruption to business.
“An aggressive change management and communication
plan will be devised to address the cultural, behavioural and end-user training
needs for full adoption of the system,” the TIA told Engineering News
Online.
To ensure the required technical training was
ascertained for the TIA to sustain the system, the necessary capacity
requirements would be assessed and gaps identified during the change management
process.
During the implementation phase, skills transfer
would be offered to the experts that were knowledgeable on all aspects and
processes within a particular area in the business units.
MARKETING
SlickText.com,
an industry leader in the SMS marketing industry
provides businesses and organizations of all sizes with the tools necessary to
market to their customers via highly targeted, opt-in text messages. They’ve
experienced explosive growth over the past year and have been releasing new
features on a regular basis to further increase the quality of their
customer experience.
Slick Text
is excited to announce the release of a new analytics dashboard for their SMS
marketing service. With this new reporting tool, their users now have the
ability to dive deep into how their text message marketing campaigns
are performing.
Bobby
Angilella, VP of Business Development said, “It’s incredibly important for our
customers to track the performance of their text marketing. The more insights
they can gain, the more progress they’ll be able to make as a result.”
The new
analytics dashboard provides charts, graphs, and geo-maps of subscriber data
such as location, date/time of opt-in, and source of opt-in to name a few.
Furthermore, it also allows their customers to track the performance of SMS
marketing campaigns by tracking things like open rates, click-through
rates, and subscriber activity following each text that’s sent out.
Boston-based DataXu announced
today that it had raised $27 million in a round of funding led by Thomvest
Ventures and backed by Atlas Venture, Flybridge Capital Partners and Menlo
Ventures.
DataXu's marketing platform employs Big Data
analytics to identify prospective customers, automate ad targeting and optimize
media spending. According to the startup, its platform can increase ROI up to
five times over traditional techniques and reduce media and data management
costs by up to 40 percent.
The last six months have seen an increase in Big
Data investment activity, with investors showing particular interest in
companies offering solutions for marketers. This isn't surprising, given
results of a recent survey that found marketers
planning to increase their spending on Big Data.
In December, Palo Alto, Calif.-based ClearStory
banked $9 million to put a user-friendly spin on Big Data analytics
and Canadian firm Coveo
raked in $18 million for its Big Data-based CRM technology.
Last summer Sqrrl, a Boston-based startup with spy
agency roots, raised
$2 million for its Accumulo-based Big Data security platform, and 33Across
attracted $13 million for Big Data-enabled social marketing.
In an announcement of Data Xu's funding round, CEO
Mike Baker outlined what his company's technology does for marketers seeking to
attract today's tech-savvy, connected shoppers. "Our software helps
marketers reduce the cost and complexity of marketing across multiple digital
channels, while at the same time enabling them to build a much deeper and more
actionable understanding of today's empowered consumer," he said.
RETAIL
Amid a
probe being initiated into Wal-Mart's US lobbying with regard to its India
entry, the global retail giant has continued to lobby with the American
lawmakers on this issue, as also others, and spent a total amount of USD 6.13
million on the same during 2012.
As per the
latest Congressional records of lobbying disclosure reports, the US-based
Wal-Mart Stores spent a total amount of USD 1.48 million (about Rs eight crore)
on lobbying for various issues, including on "discussions related to FDI
in India", during the last quarter ended December 31, 2012.
This has
taken the total lobbying bill of the company for entire 2012 to USD 6.13
million (about Rs 33 crore), the lobbying disclosure records available with the
US Senate show.
Wal-Mart
has been lobbying with the US lawmakers on dozens of issues every quarter,
whose disclosures it is mandatorily required to make under the American
regulations.
Recently,
the Indian government initiated a probe into the lobbying activities by
Wal-Mart in the US for gaining access to Indian market, after disclosures about
these activities caused a furore and a political debate in India.
Food and beverage (F&B) and retail made up more than
60 per cent of franchise members in Singapore last year.
Members from the F&B industry made up 36 per cent, while those from the retail sector accounted for 26 per cent.
Education came in a close third at 19 per cent.
Experts say food and beverage and retail sector are popular, given their easily replicable business model and large consumer market.
Singapore's demand for education services and high standards are also driving interest in this industry.
Educational institute MindChamps has been opening franchise firms for about five years. This year, MindChamps is adding another 10 franchisees locally, and another 10 in Australia and Malaysia.
Quality control has become increasingly important with MindChamp's expansion, and the institute has developed a performance indicator to keep franchisees in check.
"This performance indicator is to measure every aspect of our franchise business, ranging from curriculum, management of teachers, to their operational aspects," said Michelle Peh, executive director at MindChamps Holdings. "We send our team regularly on a monthly basis to observe and check on all these areas."
Karen Eidsvik, chairperson of Franchising and Licensing Association explained: "(Education) is becoming more competitive as the school environment is becoming more competitive.
"The sector is growing along with the competition for getting into the right schools. The other side is that Singapore has a brilliant reputation for education, if you look at Singapore's results in global exams and how well (the students) do. And so people have taken advantage of that and franchise it so that it can be replicated not only in Singapore but also abroad."
Members from the F&B industry made up 36 per cent, while those from the retail sector accounted for 26 per cent.
Education came in a close third at 19 per cent.
Experts say food and beverage and retail sector are popular, given their easily replicable business model and large consumer market.
Singapore's demand for education services and high standards are also driving interest in this industry.
Educational institute MindChamps has been opening franchise firms for about five years. This year, MindChamps is adding another 10 franchisees locally, and another 10 in Australia and Malaysia.
Quality control has become increasingly important with MindChamp's expansion, and the institute has developed a performance indicator to keep franchisees in check.
"This performance indicator is to measure every aspect of our franchise business, ranging from curriculum, management of teachers, to their operational aspects," said Michelle Peh, executive director at MindChamps Holdings. "We send our team regularly on a monthly basis to observe and check on all these areas."
Karen Eidsvik, chairperson of Franchising and Licensing Association explained: "(Education) is becoming more competitive as the school environment is becoming more competitive.
"The sector is growing along with the competition for getting into the right schools. The other side is that Singapore has a brilliant reputation for education, if you look at Singapore's results in global exams and how well (the students) do. And so people have taken advantage of that and franchise it so that it can be replicated not only in Singapore but also abroad."
SUPPLY CHAIN
Sesa Goa Limited won the Supply Chain Technology Advancement
award at the second Asia Manufacturing Supply Chain Summit (AMCSCS), for
successful implementation of RFID technology across its business operations in
Goa and Karnataka.
Sesa Goa is the first mining company in India to
implement automation using RFID technology to streamline the supply chain,
improving productivity by reducing transaction time and human errors. The
system which identifies the vehicle using RFID tags, links all the
touch-points, i.e.; security gates and weighbridges across the operations in
Goa and Karnataka and consolidates the information enabling analysis and
reconciliation of a large number of transactions. While interfacing with the
enterprise's central database and ERP solution, it also interfaces with NIC
(National Informatics Centre) and (n)-code websites, linking forest passes and
Department of Mines and Geology permits with truck information. The system has
been implemented to withstand tough ambient conditions associated with mining
operations in Goa and Karnataka such as high temperature, high humidity, heavy
rainfall and dust.
The award was presented during the Grand Awards
Ceremony on 23 January 2013, at The Lalit, Mumbai. Mr. Suresh Rathi, Head -
Infrastructure & Logistics, Sesa Goa Limited, along with Mr. Ashish Jamre,
Associate Manager - Logistics and Mr. Praveen Rai, Associate Manager -
Inventory Management Cell, received the award on behalf of the Company.
Supply chain and warehouse management software maker
Manhattan Associates continues to
do well in a cut-throat market, and to do so with organic growth and good,
old-fashioned software development.
In the fourth quarter ended in December, the
company's revenues were $95.4 million, up 14.2 percent compared to the year-ago
period, with net income rising an even faster 18.5 percent to $12.5 million.
That's a very respectable 13 percent of revenue dropping from the top to the
bottom line.
During Q4, software license sales at Manhattan
Associates actually fell by 13.9 percent to $14.4 million, but services
revenues more than compensated by rising 19.3 percent to $72.9 million. The
company is also a systems reseller (with some of those machines being Power
Systems-IBM i boxes) and hardware sales in the quarter rose by 36.3 percent to
$8.7 million.
For the full year, hardware sales were flat at $30.9
million, software license sales rose by 13.4 percent to $61.5 million, and
services revenues rose by 16.3 percent to $283.9 million. Overall sales
therefore came in at $376.3 million, up 14.3 percent, and net income was $51.9
million, up 15.5 percent. If you do the math, that works out to $2.56 per share
of earnings, compared to $2.09 a share in 2011.
It is amazing that someone like Infor, Oracle, or SAP has not snapped up Manhattan
Associates yet. But that probably has to do with the fact that the company has
a market capitalization of $1.34 billion as The Four Hundred goes to
press on Friday after the markets closed. Manhattan Associates would not be a
cheap acquisition. And the company itself knows this, having spent $99.7
million last year buying up nearly 2 million of its own shares.
Looking ahead to 2013, Manhattan Associates says
that it expects sales of between $410 million and $415 million, which
represents between 9 and 10 percent growth. Earnings per share is expected to
fall between a tight range of $2.85 to $2.91, which is between 11 and 14
percent over this year's EPS.
______________________________________________________________________Source of Information for this issue: Google alert accessed on 4th, 5th & 8th Feb 2013.
We welcome your suggestions in improving this information updating service.
Best wishes
Compilation
Sabita Sahu
Sabita Sahu
Junior Librarian
Concept, Layout and
Editing
Syamaghana Mohanty
Chief Librarian
Chief Librarian
Information and
Documentation Division, Chanakya Central Library
Asian School of
Business Management
Shiksha Vihar Bhola,
Barang Khurda Road,
Chandaka
Bhubaneswar-754012
Tel:0674-2374832, 2374833
E-mail:library@asbm.ac.in, chieflibrarian@asbm.ac.in
Sabita Sahu :Junior Librarian and Syamaghana Mohanty : Chief Librarian, Knowledge and Information Services Unit, Chanakya Central Library, Asian School of Business Management, Bhubaneswar. chieflibrarian@asbm.ac.in ; www.asbm.ac.in
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